Norton breaks production records
PERTH (miningweekly.com) – Gold miner Norton Gold Fields on Tuesday told shareholders that production for the six months to June had exceeded expectations, with the company delivering a record 85 517 oz.
This was in comparison to a guidance of between 76 000 oz and 80 000 oz.
“Norton is very pleased to deliver production and cost results that exceed market guidance. This is evidence of the company’s ability to deliver challenging production targets, and a reflection of the dedication of our staff to achieve our vision in the current turbulent market,” said Norton Gold Fields MD and CEO Dianmin Chen.
Gold production from the Paddington gold mine reached 41 464 oz during the three months to June, at a C1 cash cost of A$1 029/oz. During the quarter, mining continued at the Navajo Chief, Green Gums and Violet opencut mines, and started at the Enterprise and Golden Flag mines.
All mining and rehabilitation work was also completed at the Catherwood openpit mine.
The A$110-million Enterprise mine would supply the bulk of the ore to the Paddington mill, and would contribute an estimated 110 000 oz/y in gold production.
The Golden Flag mine, in turn is the most recent openpit mine in the Mount Pleasant region, and would provide ore feed material in the latter part of 2013 and into 2014.
“With significant capital investment made in the new Enterprise mine and owner mining fleet fully commissioned, we expect further cost reductions in line with our 2013 production guidance,” said Chen.
For the full year, Norton Gold Fields was expected to deliver between 154 000 oz and 162 000 oz of gold.
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